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SPONGEUSDT Price Analysis – 21 September
Sponge will increase and surpass the $0.000136, $0.000196, and $0.000330 resistance levels as long as the bulls are able to hold onto the $0.000087 support level. If the bears breach the $0.000087 support, they can move toward the $0.000006 and $0.000004 levels.
Key Levels:
Supply level: $0.000136, $0.000196, $0.000330
Demand level: $0.000087, $0.000006, $0.000004
SPONGEUSDT Medium-term Trend: Bullish
The shopping zeal grows stronger every day. Sponge is increasing as a result of the current increase in bull power. The bearish trend forced the price to challenge the $0.000087 support level on July 27. It retreated in an effort to keep providing the appropriate degree of support. Increased seller pressure caused the price to drop the next day, reaching a low of $0.000087. On September 6, the price soared beyond the $0.000136 threshold. It withdrew as a result of sellers’ pressure. As more bullish candles appear, the sponge will probably increase higher and might even go beyond the $0.000196 resistance level.
The sponge will soon begin trading above both the 9-period EMA and the 21-period EMA, indicating that bulls are currently in control of the sponge market. SPONGEUSDT will increase and surpass the $0.000136, $0.000196, and $0.000330 resistance levels as long as the bulls are able to hold onto the $0.000087 support level. If the bears breach the $0.000087 support, they can move toward the $0.000006 and $0.000004 levels.
SPONGEUSDT Medium-term Trend: Bullish
On the 4-hour chart, SPONGEUSDT’s price is increasing. As more bullish candles form, the Coin is moving upward from its support level of $0.000087. The interest of buyers in the sponge market will cause the resistance level of $0.000136 to be shattered. Rising bullish pressure may cause the price to cross the $0.000196 barrier level.
The 21- and 9-period EMAs are above the price at the moment. A positive signal is provided at level 30 on the Relative Strength Index’s signal line for the 14th session.
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— $SPONGE (@spongeoneth) September 20, 2023
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